Enijn wallet expands ERC-1155 functionality

Enijn wallet expands ERC-1155 functionality

13th April 2020 0 By Jordan Heal

The latest Enjin Wallet update will enable users to send and ‘melt’ up to 100 distinct non-fungible and fungible ERC-1155 tokens in a single transaction.

There is now also support for ‘Ethereum Name Service’ (ENS) domains. In doing so, users can send cryptocurrencies and tokens to short, easy-to-read Ethereum addresses.

This will vastly aid in sending or receiving transfers since a simplified address is far easier to sort or input than a long, complicated blockchain address.

The ERC-1155 token standard – devised by Enjin CTO Witek Radomski – is notably different from other standards.

This is because it enables mixed non-fungible and fungible tokens to be sent in a single transaction.

Prior to this, batch sending both of these token types was a tedious and repetitive process since multiple transactions were required.

With the new batch transfer functionality, apps, games and wallets can distribute as many tokens as the Ethereum blockchain can handle in one go.

Tests have revealed that multi-token transfers can save up to 90% on gas fees, compared to the cost of single-token transfers.

Consequently, this functionality will enable not only a greater user experience, but it will also aid in mitigating congestion on the Ethereum network.

Additionally, Enjin has also enabled multi-token ‘melting’.

This feature means the near 100,000 ERC-1155 token holders can batch melt the 52 million tokens using the standard to extract the 12.5 million worth of Enjin Coin (ENJ) embedded into them.

In effect, any user who owns a relevant token can liquidate it to receive the ENJ stored within it.

Finally, Enjin Wallet users can now approve transactions using their phone’s fingerprint scanner and facial recognition technology.

Not only does this add a layer of security, but it also enables the process of sending, melting and selling tokens to be streamlined.

Interested in reading more Enjin-related stories? Discover more about Enjin speaking on its collaboration with tech giant Microsoft.